inchicago's journal

Where are you and where are you going?
inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

inchicago's journal

Post by inchicago »

Hello everyone!

I thought I'd start my journal and document my progress here so I can refer back to it every now and then. Maybe even get some tips from the experts here. :D

I'm 38 and live in the Windy City (Chicago). I've been here since 1997. I've completed a BA and a Masters and certifications. I'm a lifelong, but instead of focusing on career learning, I'm focusing on early retirement learning.

I made a ton of mistakes with money when I was younger. Just a few of these:
1. Constantly changing schools. Paid cash and got into serious credit card debt because I paid everything else with the credit card debt.
2. Being in serious debt twice. Once for $30,000. Another time $17,000. I paid every penny off. No bankruptcies for me. I borrowed the money. It's my responsibility to pay it back.
3. Not sticking to one residence. I have however paid off my current residence (condo).
4. Buying a bunch of useless garbage that has now either been sold or donated.

What's worked in my favor:
1. Only two days of unemployment since I began working here in the summer of 1997.
2. A pretty decent salary since I've begun working in 1997. I have constantly increased by salary from minimum wage up to almost $80,000/per year.
3. Always being able to come up with extra money through either side jobs, Airbnb, etc.

About six years ago, about the time I my condo, I started to get really serious about getting out of debt. So that $17,000 and the condo had to go. I've been debt-free for about a year now. It is awesome!

I've realized I have never liked working, even though I have always been a top performer. I think I'm always performing above and beyond so I can just be left alone. I don't like drama and avoid it at all costs. All the more reason to retire early and be away from the crowds of people on the CTA, downtown Chicago, etc.

A few years ago, I was all set to teach a year in South Korea, teaching English, and then move to Denmark. All that fell apart when my husband lost his job. He then moved here and started going to school. Good thing the Danish government pays for that!

I almost feel like the universe if telling me you have to do this now! No breaks, no nothing, until you get serious and retire yourself. I had the ideas to get out of debt and pay off the house I was living in during my first marriage but his attitude was, "I'm going to work until I die. So will everyone else." No way, I say!

I am saving a good amount now. I will post this in another entry soon. One thing I do spend money on, although it's not a huge amount, is travel. I want to visit all 50 states in the next 5 years. Only 24 more to go! And visit every continent. 4 more to go there.

Well, I think that's enough about me for tonight.

Dave
Posts: 545
Joined: Fri Dec 19, 2014 1:42 pm

Re: inchicago's journal

Post by Dave »

Congrats on being debt-free. It sounds like you have a lot of motivation going, and that you are making good progress towards your goals. Do you have a target date for being FI, or just moving in the right direction and not worrying about it?

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

I tried responding to your message but there was no reply feature and when I went to send you a message it said I had to participate more before the feature was available. :( So now I can't respond in full, but will tell you that you have gotten a steal for where you are going to live and will love it there. Lots happening. Also, I worked right by where your friend will be working.

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Goals:
1. create multiple streams of income (website revenue, financial coaching and an Etsy store centered o embroidered pieces)
2. continue investing
3. purchase rental units (at least 3)

I need to work on the following to accelerate by goals:
1. less eating out, really when I am at work (at one point I was spending almost $500/per month!)
2. get in more exercise
3. spending more time on goals, particularly the ideas for the small businesses
4. cook more at home so I can bring lunches to work

Skills I would like to learn:
gardening
making soap

Activities I would like to spend more time on:
languages
exercise
music
reading (although I get 2 hours done of this every weekday during my ride on public transportation to work)
writing
travel
theatre
Last edited by inchicago on Wed Jun 24, 2015 9:18 pm, edited 2 times in total.

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Now for some numbers:
After taxes, I bring home $45,942.24/per year.
Before taxes, the following are already paid for: public transportation, health/dental/vision insurance and my 401k at $7,758.96/per year.

Of the $45,942.24, I have just created my new plan going forward, and it includes per month:
$250/Lending Club
$250/Capital One Investing
$250/gold & silver
$250/saving up for new living furniture and wooden blinds
$250/saving for vacations
$1,000/cash savings
Total: $2,250/per month

Expenses per month:
utilities, charity, Internet, and car insurance=$415.52/per month
fuel (car)=$40/per month
groceries=$300/per month for 2 people
supplies such as shampoo, soap, etc.=$120/per month
dog grooming=$46.67/average per month
hair care=$66.67/average per month
Total= $1087.36/per month

Spending/fun month/per month=$571.16

Big one time bills per year include:
$100 for city sticker (car)
$1900 for property taxs (I got this reduced over two years from $3,100.)
$85 for state license fee (car)
$400 for home insurance
Total=$2,485

My cell phone is paid by my work.
Car and condo is paid off.

I realized that the biggest portion of my income being thrown out the window was buying a tea latte every morning at $4.25 for just one! And some days, I bought two...even three during the winter. I was also eating out almost every day at lunch, which is not only expensive, but extremely unhealthy. I was spending upwards of $600/per month of these two nasty habits. I have hit the cookbooks this weekend and planned out the menus for lunch and dinner and will ask for a latte maker for my upcoming anniversary. :)

Next time: Business ideas and extra income potential

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

I decided before I go into the starting a small business and finding extra money, I would write down my experiences with the 21 items for ERE that Jacob has outlined.

Day 1: Finding a place to live
Achieved! My condo is paid off and is close to the bus. I can also walk to the grocery store, bank, theatre, movie theater, park(s) and a bunch of other entertainment and shopping.

Day 2: Decluttering and managing stuff
Just did this and whoa did it feel good!  My father is a hoarder. He has so much old, dirty, worthless junk. He spends countless hours moving this junk from place to place. Instead of enjoying life, he is letting this junk dictate what he does every day. So I have always kept my place extremely neat and clutter-free. Lately, though, I want even less. My basement storage had one too many items in it so these have been sold, donated or pitched. The nice thing is, I can put pretty much anything in the alley and it’s gone by the next day.

Day 3: Grocery shopping
This one needs a little work. It’s around $300/per month for two of us.

Day 4: Drop the cell phone plan
No issues here-my company pays for it. I haven’t had to pay this for almost two years now. Even when I did pay for it, I had no contract, it was pre-paid, and a very basic phone. I even got hand-me down phones which were only a year or two old and were given to me for free, because the person who gave them to me wanted to upgrade.

Day 5: Find a free hobby
I’ve accomplished this one a long time ago.
For example, I’m the person you will see in line at the bank or grocery store reading a book. I never worry about long lines anymore, because I’m always prepared. I used to buy the majority of my books, until about six years ago, when I realized, hey, I have a library card and pay taxes for the library so why don’t I start using it. For books my library doesn’t have, I ask for them for my birthday and Christmas.

Just some of my free hobbies include: learning languages, playing an instrument, listening to music, embroidery, yoga, swimming, walking by dog and exploring neighborhoods.

While I’m not making any money from my hobbies at this time, I would like to open an Etsy store in the near future (maybe this year) and sell embroidered, framed pieces. I would also like to have some time to start the books I have wanted to write for a few years. Plus, while I’m not overweight and walk quite a bit, I would like to add in three or four days of moderate intensity aerobic exercise.

I would also like to learn the following skills eventually:
• gardening
• bicycle maintenance and repair (this involved actually riding a bike again someday!)
• canning
• baking bread (GF)
• making caramels and candies (for potential sale)
• investing (stocks, options, real estate)
• soap making

Here are the skills I currently have which may prove useful after retirement:
• Sewing
• Knitting
• Embroidery
• Cooking/baking
• Footwear construction
• Hatmaking

For many, many years, I have done volunteer work. Now, I just no longer enjoy it. It seems to me that there is always at least one person who is a bully and has to ruin it for everyone. So I’ve decided not to spend my time on anymore volunteering, at least not in the short term.

Day 6: Clothes
I have tons of clothes and could probably get away without buying a single new thing for at least five years. A few years ago, I considered making my own clothes but realized with the cost of materials and the time it would take me, it doesn’t make any sense to do this. Only if you really like to be creative and enjoy it as a hobby would it make sense. I’m not too keen on buying anything from a thrift store. Who was wearing that before? I know, I know, but that it just the way I feel about it.

Day 7: Going car free
I have a car, but it has been paid off since 2002 and only has 56,000 miles on it. It always starts in the winter, even when it’s 20 below. I have to pay little in the way of maintenance. I spend maybe $35/per month on fuel and it costs about $65/per month in insurance. My husband wants to get his own car once he gets his driver’s license. He has never had a license so I suspect that it why he is so excited to get a car. I’ve tried talking him out of it so the deal will be, he will drive mine until it no longer runs or is falling apart (hopefully not for another 10-15 years), and I will not buy another car. There is no reason to have two cars when we don’t even have a garage. Trust me; I will not miss trying to find parking on the street outside my condo. He can deal with that worry.

Day 8: Get engaged!
I’m engaged in getting serious about my future. 

Day 9: Budgeting
I have sat down and really gotten serious on what I need to save and what I can spend. I think I’m moving in the right direction. I may get even more aggressive over time. That’s one thing I’ve done when I have wanted to pay something off, like my condo.

Day 10: Calculating net worth

What a ways to go…

Day 11: Connecting your stuff with your neighbors
This is not really something I would be interested in at this time. I prefer to keep to myself. Life is far easier that way.

Day 12: Establishing a savings account
Done! And continuing this every day…

Day 13: Insurance
I have health/dental/vision insurance for me and my husband through my employer. Besides having a chronic condition, we don’t have to us the insurance very much and for what we do, I have a flexible spending account of $600/per year.

I do have car insurance and it’s over $60/per month which I think is quite high for a car from the late 90s, no accidents and no tickets so I am going to have to call about this one.

And of course I have the famous home (condo) insurance. Just in case. When I first got it, it was a requirement based on getting the mortgage. No insurance, no mortgage.

Day 14: Investing for early retirement – Part 1
While I have a 401k and have had it for many years, I know it’s not the way to an early or even comfortable retirement. I’m working on investing in stocks for dividends. I’d like a few small rental properties, have the renters pay them off, and then live on the cash flow. In fact, I’ve even researched a few real estate groups in the Chicago area and will try very hard to attend a meeting or two very soon.

Day 15: The first two weeks of the make over
I’m pretty much there already so I’ll keep moving forward.

Day 16: The stuff you actually keep and use
Nothing to say here, except I have been focusing on just having stuff I need/use. I prefer buying things that last, not cheap garbage.

Day 17: Maintaining and repairing things
I have always repaired clothing and others items I can. That’s where sewing skills come in handy.

Day 18: Join a challenge
I am challenging myself to make my lunches each day for work as well as smoothies and teas. Wish me luck because this is where the majority of my money is going right out the window! 

Day 19: Getting rid of your TV (addiction)
This isn’t a problem for me. I wasn’t really allowed to watch television as a kid so it has never really appealed to me. I have no attention span, anyway, to sit for hours.

Day 20: Own classics
I totally agree with this.

Day 21: Investing for early retirement – Part 2
Working on this.

Dave
Posts: 545
Joined: Fri Dec 19, 2014 1:42 pm

Re: inchicago's journal

Post by Dave »

It is obvious you are putting a lot of thought and effort into your lifestyle, very impressive!

How are you doing with making your own lunches, smoothies and teas?

jacob
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Re: inchicago's journal

Post by jacob »

Hmmm .. maybe we should do another Chicago meetup? I'd get a chance to practice my 2000 (noughties?) era Danish? As well as my "You sound like a German"-American :-P

Dave
Posts: 545
Joined: Fri Dec 19, 2014 1:42 pm

Re: inchicago's journal

Post by Dave »

Haha, I would be interested in a Chicago meetup, but I don't want to take this journal off topic. Should we start a separate post?

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Dave and Jacob-Yes, let's do a Chicago meetup! My husband will be thrilled to "talk Danish". Not necessarily German, though. :) And perhaps you can get him over the edge about this extreme thing. He's getting there, but I just don't think he believes that early retirement can be done. Plus, his obsession with the car. Sigh.

Dave, to answer your question: I think I'm knocking my challenge to myself out of the water! This week, I will have either brought my lunch or had it given to me from work (due to special events this week). I bought a vegan Indian cookbook not long ago and my husband has made three dishes from it. I've been able to take the leftovers to work. Those leftovers were far more tasty than anything I could have bought and right there that will save me $50 this week. I have done way better on the tea thing. Only $9 so far this week versus the at least $27 that I would have normally spent. As it gets hotter here, I will cut back even more on the tea drinking and stick to water. By the time cold weather hits, I will have my latte maker (as a gift) and perfected the art of making mine own delicious teas. :) I even made some homemade chocolates and have been using them as a little treat during the workday.

Also, Dave, thanks for the compliment. Once I wrote everything down, after much thought, I have realized now that I really have a true "escape plan" and I can make this happen. I told one of my co-workers about how to do it, and he told me that there was no way, unless I hit it big or got a huge inheritance. That's cool. Tell me that in 10 years, buddy, and we will see who's right.

I have a few more challenges as far as saving money:
1. Instead of paying for classes when I want to learn something, I am going to read what I can at the library and check out YouTube videos.
2. To save money on magazines, I will check out the library and perhaps read them there. The bus stops right outside the library so there is no reason why I can't just jump in there for 15-20 on my way home from work. I'm not sure they will have the magazines I like so I will need to check that out. Maybe tomorrow.
3. I need to cut down on the almost $70/per month (on average) of hair care I've been spending. I can certainly dye my own hair. I just get freaked out that the drain will clog. A plumber once told me always to use the kitchen sink when dying hair since it has a bigger drain. I can cut my expense down from $70 to about $6/per month. So taking the yearly cost of $840 down to $72. I'd say that's worth exploring. I wouldn't only need to get my hair cut 2-3 times/per year and that would be about $75 for the year.
4. I am planning on calling the car insurance company in the next couple of weeks and try to get my rate lowered. Any amount will help on that.
5. We may not go anywhere this summer since I haven't yet saved up to do that. I will have saved up enough by the holidays for a vacation. It may be a staycation this summer, which is kind of what I did last year.

I was reading the latest issue of Modern Farmer today, and while I don't want to be a farmer, I do like a lot of the ideas I read in there. One of the things I am highly considering is renting my own small plot next year to grow things and see how it goes. I know however there is usually a huge waiting list for it. A good idea would be to sign up for a few volunteer session and research the whole thing so I'm ready if my application for a plot gets accepted next year. I could also try container gardening in my place.

I have to say after working on my plan for moving forward, I feel so much better. Like there is some hope. I'm keeping much of it to myself because there are way too many people that are just naysayers, probably jealous because they can't or won't put in the discipline to make this a reality.

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Just a few things before I get into my ideas for an online biz...

I realize that I need to get some more strenuous workouts than just walking. Sure, I could do aerobics in my condo, but that wouldn't be very nice for the people below me. I went on Groupon and almost bought a 30-class pass for $20! When ERE principles hit me, and said, don't you do that. You have a park only 6 blocks away, plus a jump rope and a mini trampoline and a small, secluded spot in the backyard of your condo. Whew! That was close. These are the little things that keep folks from reaching their goals. For me, it's never been big expenses, but those little expenses that add up to big expenses.

I used to be a very good cook, (in my teenage years), and stopped when I moved to the city because my first husband only wanted to eat out. I have been getting back into the cooking thing this past week. (It will not be as easy when my husband is back with FT school and my workload increases in the fall as it always does.) I am hoping by cooking my meals now, it will have managed to get me in the habit so when that time comes, it is only natural that I will continue making my own meals.

I have spent the past week looking at investing courses (free!) and reading different blogs here on ERE. I am enjoying learning about everything and realize I have a ways to go.

Here are my ERE goals:
best case scenario
retire in 3-5 years (June 2018-June 2019-June 2020)
This would involve getting the online biz up and running, as well as the investing goals.

likely scenario
retire in 7 years (June 2022)
This will happen with the investing goals.

not-so-great scenario
retire in 10 years (June 2025)
This will happen with just the savings goals.

None of the above scenarios takes my 401k account into consideration.

However, you look at it, though, 10 years sure beats 29 more years (meaning I retire at 67 years of age).

So on to the biz ideas...

I realize that in order to accelerate my progress, I'm going to need a side business/online income in addition to the investing I'll be doing.

Here are the ideas I'm going to work on now:
1. investing (of course)
2. online financial coaching
3. promoting/reviewing products
4. opening an Etsy store
5. purchase 3-5 rental properties (It will take some time to pay off with the rent $, but once that happens, then the rental $ would be at least $1500-$2000 after all bills are paid.)

My criteria is that they all had to have low start up costs (under $100) and be able to be done from anywhere in the world. The potential also has to be there to continue to make additional money.

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Okay, now for a little update.

I've been doing quite well as far as the savings goals are, even cutting down my consumption of buying a morning tea and eating out lunch by I would say almost 60%! Huge achievement for me. Most likely, this will fall even further as I am having some health issues and the more I eat only fresh fruits and vegetables (raw), the better I feel. Now, that the fruits and vegetables are in season, I'm saving more money, but winter may prove a bit more expensive.

Being that my health hasn't been the greatest, and I attribute this a lot to my job (stress/overwork), I may need to start going to an alternative medicine doctor. Western medicine doctors have been completely useless over the years. I have had chronic headaches and migraines for over 30 years now. I have found that eating raw vegan is the best remedy for myself as well as getting acupuncture treatments and massages every now and then. As far as I'm concerned, health has to come first, or what's the purpose? To just sit there sick all the time is not life.

I've signed up for a yoga class at work. It's only a $1/per session which is super cheap. I also am looking at some sword-fighting type classes with my husband and of course we continue to walk our dog a couple of miles each day.

I've spent some time looking at various places to invest in real estate, and it looks like Chicago will be my best option. It's more expensive, but the property values usually go up. In other places, they have been flat for years. So I will be saving up for the 20% down, and will most likely be ready to purchase something next year. Since property prices are very high in Chicago right now, I will just bide my time until they get a bit more reasonable.

I read on this site to spend a year reading various investing books. I like that idea a lot, and even my husband is into it. He came home the other day with an investing book, and I have begun reserving them at the library. I need to come up with a consistent strategy as far as the stock market is concerned. I'm happy enough with my Lending Club account, but I feel I need another revenue stream.

July was a tough month as far as saving money. Everything came due for August so it was property taxes, state license sticker for my car, and homeowner's insurance for the year. That all came to about $1,400. However, that's really the only expensive month I now have. (I plan on keeping it that way!) Speaking of my car, unfortunately, I have now noticed the signs of aging with rust starting to creep up on the bottom. I have had my car since 1998 and it's always been parked outside (no other choice). Last winter was particularly difficult in Chicago, and so I think that's where the damage has come in. Lots of snow and ice which means more salt being put down on the road. Someone asked me if I was going to replace the car and my answer, without hesitation was no. I know my car has a few good years left, but after that, I don't feel the need to spend that kind of money to replace it and pay for the monthly maintenance costs.

I've toyed around with the idea of finding a new job, but the more I think about it, having to work, especially in a job I would rather not work at, will force me to continue to find new ways to invest and save money so I can get out of there. Sure, I could go to another job, but why bother? It's all the same. The two good things about this job is that I have almost 4 weeks of vacation in total and will be vested in the pension program by 2018. I did manage to get a raise of 4.25% this last time, which went straight into investing/savings. I always worry about going to another job, and maybe it's not as stable, plus, learning everything new again and dealing with a whole new set of rules. That was fine in my 20s and early 30s, but now I'm just tired of it all.

I've already managed to help two different people with their finances. Both are in their 50s and were headed for a train crash into their retirement years, (if they could retire at all). They have been very grateful for my advice and have already started saving and getting out of debt, when before they were spending way more than they took in. At their age, that sounds pretty scary to me: Not owning their property, massive credit card debt and no savings. I guess a lot of America is like this.

My husband and I have been thinking of where we want to go to live, and I believe he would like to go back to Europe. I'm okay with this. I feel ready for something new, before I'm too old to enjoy it. He is entering university this fall and has two more years. We don't pay for the university since his country's government pays for it. However, that always means he has no income while he is a full-time student. He is hoping to find a paid internship of a few hours per week during the spring semester.

As for my online businesses, I've gotten a website up. I'm learning a lot about building and marketing websites; a skill that should be quite valuable as long as the Internet remains.

Dave
Posts: 545
Joined: Fri Dec 19, 2014 1:42 pm

Re: inchicago's journal

Post by Dave »

inchicago wrote: For example, I’m the person you will see in line at the bank or grocery store reading a book. I never worry about long lines anymore, because I’m always prepared.
Were you always able to do this? I like the idea of being able to read on demand for short bursts, but I have a hard time reading a few pages here and there, especially in a loud/busy environment. I feel like I am not giving the reading my full focus, and that bothers me.

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Yes sir! When I was much younger, my parents would hang out for hours just drinking coffee so my brother and I found a way to entertain ourselves and that was with books. Suddenly, the long, boring event would pass quickly. I do like it very quiet, so if I'm studying, I need to have complete silence. If I'm reading a book, not so much. Of course this depends on what kind of a book this is. If it's a historical book full of facts, then I need to be able to concentrate. If it's one of the typically modern books, with short paragraphs and short chapters, regardless of the topic, I have no problem to read a little here and there. This makes me feel productive when waiting in line.

Dave
Posts: 545
Joined: Fri Dec 19, 2014 1:42 pm

Re: inchicago's journal

Post by Dave »

Ah, that makes sense!

I practiced your habit tonight - I brought a book with while waiting for a pizzeria to finish my order, and enjoyably passed what would have otherwise been a relatively boring few minutes in a crowded area.

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Wow! It's been awhile since I last posted here. I hadn't been feeling too well and at the first of October I found out I was suffering from three vitamin deficiencies. I'm feeling way better and have been for the last month. I've also decided to go back to a raw vegan lifestyle. The amount of energy, focus and clear-headedness that I get out of it is amazing. Not to mention I won't be an ounce overweight. I'm starting back on the program tomorrow.

I haven't done spectacular on the savings. I had A LOT of expenses just pop up. One was my car. I almost didn't bother with it but considering that the car is good and $1500 altogether for new tires and a battery and a few other things was a decent enough price to pay to keep it for a few more years.

I also signed up with a real estate investing group. It's something I have wanted to do for a very long time. While I love the idea of not ever working again, I want to be able to afford to go traveling when I want and to have a better home with a parking space. With the real estate group, I'm taking courses on investing and learning different real estate strategies as well as being given the opportunity to make money by selling the courses. The commission structure is quite nice and this will accelerate my time to FI.

I've begun focusing on relationships with people. I've never been that get with making friends and I'm working on myself to be more tolerant and understanding with people, although to be honest, I've never had much use for people. However, there are some people that have stuck by me for a long time, even with all my moods, and so I think that deserve some recognition. :)

The other thing I need to do is to get on a real exercise schedule, especially with lifting weights and stretching. I would do aerobics but since I'm on the top floor of a condo, that wouldn't be very nice to my neighbors below.

In December, I'll be focusing back on saving money. I have also stop contributing to my 401k at work. High fees and not gaining any money. I have a lending club account, but I'm not really that thrilled with that, either, so I will save what money I was contributing these two until I can determine a good place to invest, if any.

I hope everyone has a nice Thanksgiving!

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

I forgot to mention in the last post that I bought Jacob's book and plan on reading it during the holidays. I really enjoyed the first chapter I read on Amazon.

Dave
Posts: 545
Joined: Fri Dec 19, 2014 1:42 pm

Re: inchicago's journal

Post by Dave »

inchicago wrote:The other thing I need to do is to get on a real exercise schedule, especially with lifting weights and stretching. I would do aerobics but since I'm on the top floor of a condo, that wouldn't be very nice to my neighbors below.
I feel you here, I am on the fifth/top floor of my building as well. I do kettlebells and yoga in my apartment, but since the weather has been nice outside I have not been forced to do cardio inside - until now.

I am considering doing sets of stairs runs: run up the five flights of stairs, walk down the hall to the other flight, walk down, walk over to the original flight, run up the stairs, repeat. I don't think that will be as annoying to my neighbors as doing jumping jacks :-D.

Would that work for you?

El Duderino
Posts: 177
Joined: Mon Oct 27, 2014 12:24 pm

Re: inchicago's journal

Post by El Duderino »

Hey, nice journal, just finished reading and you're making great progress!

I'm totally with you on reading to fill time. I've always got my little e-reader or even long-read web article loaded up on my phone just in case I get a chance to sneak in a few pages. I can pretty much tune out and read anywhere, even a screeching, howling tube full of people, though people don't make much noise on the tube, usually. Anyways, I get through so much more material this way.
inchicago wrote:I haven't done spectacular on the savings. I had A LOT of expenses just pop up. One was my car. I almost didn't bother with it but considering that the car is good and $1500 altogether for new tires and a battery and a few other things was a decent enough price to pay to keep it for a few more years.
Curious to know what the repair list was. I just bought a set of tires for my car so I know they're not cheap, but that's a fair chunk of change, almost a year of property taxes for you, right?

inchicago
Posts: 134
Joined: Wed Jun 10, 2015 12:03 pm

Re: inchicago's journal

Post by inchicago »

Hi and sorry for the late reply. The holidays have seemed to get the best of me. Yes, the car needed all new tires and then there was the check-up and some other miscellaneous items like the oil change and some other fluids for the winter. Plus, the towing. Now, the engine light has popped on and I'm hoping that was only because the weather was so bad yesterday and it will go off soon. My husband and I talked about it yesterday, and decided if it is a major repair, we will now let the car go. And of course, I will sell my brand new tires! I have to get something out of the deal if everything goes south. And yes, I pay for the property taxes every 6 months which is about $1,000/each time, although it will go up in 2016. :(

I've worked out my savings plan for the next year. I really like the site that Jacob posted at http://www.supercook.com/#/recipes. I always have staples on hand and it all looks so boring so this will help with no more mid-week shopping trips. I have cut down my eating out to almost 0. It's just not that tasty, and I've been feeling much better after making my own raw vegan recipes. Sure, the produce is a little higher to buy all organic, but I estimate with my new way, I'm saving over $350-$500/per month! With my new plan, I can easily save 70% of my after-tax income and still have a couple of 100 for spending.

I am now starting to work on my business. I've ben attended as many free real estate courses as I can. I also study the one I paid for. I need to start marketing the courses for some extra income. I spent all day yesterday working on this. Especially since the weather was so bad, I couldn't really go anywhere.

I've actually found a few exercises I can do in my condo which will not disturb anyone. Plus, the neighborhood downstairs are not really here that much and are usually playing their music so I can list weight and do yoga and a few other things. I will continue my 3-4 mile walks every day, even when it gets below 0 as I did last year.

One thing I did splurge on this year was a North Face coat. I have tons of winter coats and they are all worthless. I'm always freezing and miserable. I figure the $300 investment is going to last me for the next 10+ years if I take good care of it.

Another thing my husband and I are doing is learning to make repairs around the house from talking with people and watching YouTube videos. It's amazing just what information is out there.

I will get around to posting some numbers in the new year.

I hope everyone has a very Happy New Year!

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